the mandate of the Reserve Bank. Although the governing party has yet to announce the terms and scope of the expansion, it has said the Reserve Bank should also focus on unemployment and growing the economy. The Bank currently focuses on price stability.
Following last weekend’s ANC Lekgotla, the party says it wants to almost halve unemployment in the next five years. Stats SA earlier revealed that GDP contracted by 3.2% causing the Rand to weaken by around 1% against a basket of major currencies. ANC spokesperson Pule Mabe says, “Those are discussions that are ongoing in the organisation as part of exploring the different options. It is in our interest that the central bank is stable, it continues to discharge its own mandate and makes a positive contribution on the kind of growth that we want to see in the country.
It time for them to leave Reserv Bank and check on the Chines deal they have been singing. Maybe they can bring jobs in SA
Ace is addicted to looting
Do our politicians enquirer from specialists in economy before they make such decisions?
The beginning of the end.
The Reserve Bank has acted on the whim of politicians before. It didn’t end well.ANCNECLekgotla!
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